Tag: financials

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Spotify ended 2016 with 7.1m monthly active users in the UK

Spotify’s UK subsidiary has filed its financial results for 2016, offering an insight into the company’s business in that country. The streaming service’s UK revenues grew by 27% to £237m (around $311.9m) with subscriptions...
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Financials reveal Shazam narrowed its losses to £3.7m in 2016

Shazam narrowed its net losses from £16.7m in 2015 to £3.7m in 2016 (around $4.9m) in a year when it said its app had more than 300 million annual active users. These details come from the company’s financial results...
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MelodyVR financials reveal £2.6m loss for first half of 2017

It’s no shock that music-VR startup MelodyVR is reporting losses: the company is pre-revenue, and has yet to launch its app commercially. The British firm’s financial results are useful in showing the costs of building...
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Vevo hopes for 30% growth after 2016 revenues of $500m

Vevo has been talking about the growth in its advertising business, with the music-videos service having taken in $500m in 2016. Chief sales officer Kevin McGurn told Business Insider that Vevo is expecting 30% growth...
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2017 was a billion-dollar distribution year for BMI

US performance-rights organisation BMI has announced a strong set of figures for its 2017 fiscal year, which ended recently. The company generated $1.13bn of revenues, distributing just over $1.02bn to songwriters, composers...
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BMG revenues and profits both up in first half of 2017

It wasn’t just Universal Music posting new financials this week. BMG (through its parent group Bertelsmann) has also revealed its latest figures, with encouraging growth in both revenues and profits. BMG generated revenues...
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Streaming generated $1.3bn for major music labels in Q2 2017

The three major labels – Universal Music, Sony Music and Warner Music – saw their collective recorded-music revenue from streaming grow to just under $1.3bn in the second quarter of 2017. That represents 38.5% growth...
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Snap shares fall as net losses continue to grow

Snapchat’s parent company Snap reported its latest quarterly financial results overnight, and the sight of its share-price plummeting tells you what the markets thought of the figures. The company’s revenues were up...
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WMG wants ‘greater differentiation’ between free and paid streaming

Streaming may have been the driver behind eight consecutive quarters of revenue growth for Warner Music Group, which reported its latest strong financials yesterday. But CEO Steve Cooper says that WMG is keen for streaming...
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Sony Music growth fuelled by streams and physical sales

Sony Music reported strong financial results for the second quarter of 2017 – its fiscal Q1 – with revenues up 18.8% year-on-year to $1.52bn. The label’s operating profit jumped by 57.6% to $225.2m in the same period....
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Apple Music helps drive record quarter for Apple services

Apple published its latest quarterly financials last night and – no surprises here – it’s still making plenty of money. The company’s revenues were up 7.2% year-on-year to $45.4bn in the second quarter (Apple’s...
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Pandora refocuses on ‘audience growth’ over subscriptions

Pandora reported better-than-expected financial results for the second quarter of 2017 last night, with revenues up 10% year-on-year to $376.8m. That included 25% growth in subscription revenues to $68.9m, as Pandora ended...